Social Business Creation – Round 3

A. Social Business Description

Overall, the perception of customers about the new social mantra is more positive than the old one. From strangers to people who support the project, they all have a certain understanding of what we do.

=> WE CREATE AN APPLICATION INTEGRATING HEALTH- SUPPORTIVE and educational functions

Memorii creates social value by empowering teenagers from disadvantaged conditions through free educational comics, interactive workshops and health-supportive features, fostering informed decision-making and improving access to comprehensive reproductive health education.

Memorii implements a subscription-based model in order to fulfill the huge market demand for accessible Reproducutive Health learning; we provide comics, reliable in-app education, and engaging workshops while also getting involved in financing activities and gaining partner commissions to increase revenue streams.

Memorii faces a significant growth opportunity, driven by the rapid growth of the app-based learning market and the urgent need to address gender issues. The app-based learning market is expected to grow at a CAGR of 13.5% from 2024 to 2032, with the potential of up to 11.8 million users in the next 5 years. We will expand our product portfolio to include comics, exhibitions and workshops, and develop new educational features and modules to reach a wider audience. With support from governments and international organizations, along with addressing pressing social issues, Memorii has great potential to scale, increase profits and at the same time enhance its ability to collaborate. positive impact on society.

B. Resources and Capabilities to execute

We move on to the Human capital for executing business model with our organizational structure with expert’s participating. Below are the main functional departments: Marketing, IT, Design and Finance, each department has specialized personnel.

Memorii Vietnam’s human resources management system is comprehensively designed, including strategic processes, core processes and support processes, all aimed at enhancing human potential and employee capacity. and performance through an effective Human Resource Management System (HRMS), with a talent retention strategy based on three key pillars: recognition, development and engagement.

Memorii has successfully developed a high-quality reproductive health education comic series, created by a professional team of content creators, subject matter experts, and designers. The series has received positive feedback from its target audience of adolescents, with high scores for likeability (4.9/5), engagement (4.8/5), and usefulness (4.6/5). Additionally, 98% of readers expressed a desire to read more and 88% were willing to recommend the series to their friends.

Memorii faces external challenges including technological limitations in rural areas, cultural sensitivities, potential economic downturns, data privacy concerns, and strict regulations. Internally, the company grapples with talent retention, remote team management, and financial constraints.

To mitigate these risks, Memorii has developed a comprehensive strategy. For external challenges, the company focuses on developing suitable products like comics, partnering with local telecom providers, and conducting thorough cultural research. Internally, Memorii is implementing clear HR policies, promoting work-life balance, and deploying effective remote work tools. Financially, the company applies careful budgeting and seeks alternative funding sources. For partnerships, Memorii emphasizes clear goal-setting and consistent communication.

This approach allows Memorii to address its main risks while pursuing its mission of improving reproductive health education and access.

C. ESG Performance

Memorii’s MeFi app is not only a health education application, but also a safe and secure platform for users. We strictly comply with the Cyber ​​Security Law 2018, ensuring users’ personal information and medical data are maximally protected. Regarding the environmental aspect, we develop digital comics, contributing to reducing paper use. At the same time, Memorii organizes free reproductive health education workshops every month and prints 2,000-10,000 hard copies of comics every quarter, to bring essential knowledge to adolescents in remote areas and the ethnic minority.

This is our ESG framework and committee which organize quarterly with participating parties.

D. Learning curve